Barclays PLC Acquires 523,306 Shares of Public Service Enterprise Group Incorporated $PEG

Barclays PLC increased its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 57.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,439,753 shares of the utilities provider’s stock after acquiring an additional 523,306 shares during the period. Barclays PLC’s holdings in Public Service Enterprise Group were worth $115,612,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Chapman Financial Group LLC bought a new stake in Public Service Enterprise Group during the second quarter worth about $25,000. Quest 10 Wealth Builders Inc. lifted its stake in shares of Public Service Enterprise Group by 250.5% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 347 shares of the utilities provider’s stock worth $28,000 after buying an additional 248 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Public Service Enterprise Group in the fourth quarter worth approximately $44,000. Colonial Trust Co SC lifted its stake in shares of Public Service Enterprise Group by 26.8% in the third quarter. Colonial Trust Co SC now owns 573 shares of the utilities provider’s stock worth $48,000 after buying an additional 121 shares in the last quarter. Finally, TFC Financial Management Inc. lifted its stake in shares of Public Service Enterprise Group by 3,000.0% in the fourth quarter. TFC Financial Management Inc. now owns 589 shares of the utilities provider’s stock worth $47,000 after buying an additional 570 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 2,083 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $77.01, for a total transaction of $160,411.83. Following the completion of the sale, the chief executive officer directly owned 287,232 shares of the company’s stock, valued at approximately $22,119,736.32. This represents a 0.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 6,249 shares of company stock worth $498,795 over the last three months. 0.19% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PEG. Barclays upped their target price on shares of Public Service Enterprise Group from $81.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 5th. Truist Financial dropped their target price on shares of Public Service Enterprise Group from $91.00 to $88.00 and set a “hold” rating on the stock in a research note on Monday, May 18th. Evercore upgraded shares of Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $96.00 target price on the stock in a research note on Thursday, March 5th. BMO Capital Markets boosted their price objective on shares of Public Service Enterprise Group from $90.00 to $91.00 and gave the company a “market perform” rating in a report on Monday, April 13th. Finally, LADENBURG THALM/SH SH cut shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $87.50 to $84.50 in a report on Friday, March 13th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.19.

Public Service Enterprise Group Stock Up 0.6%

Shares of PEG stock opened at $80.17 on Tuesday. Public Service Enterprise Group Incorporated has a 12 month low of $76.05 and a 12 month high of $91.25. The stock has a market cap of $39.95 billion, a P/E ratio of 17.74, a P/E/G ratio of 3.00 and a beta of 0.51. The company has a current ratio of 0.97, a quick ratio of 0.75 and a debt-to-equity ratio of 1.31. The company has a 50 day simple moving average of $79.53 and a two-hundred day simple moving average of $80.84.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Tuesday, May 5th. The utilities provider reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.11. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. The business had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.35 billion. During the same period in the prior year, the company earned $1.43 earnings per share. The firm’s revenue was up 19.4% on a year-over-year basis. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, research analysts expect that Public Service Enterprise Group Incorporated will post 4.37 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th will be issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Tuesday, June 9th. Public Service Enterprise Group’s dividend payout ratio is currently 59.29%.

About Public Service Enterprise Group

Public Service Enterprise Group (NYSE: PEG) is a diversified energy company that operates primarily in New Jersey. Its core businesses include a regulated utility that delivers electric and natural gas service to residential, commercial and industrial customers, as well as generation and energy services operations that participate in wholesale power markets. The company’s activities encompass transmission and distribution, power generation operations, and related energy infrastructure services.

The regulated utility arm, Public Service Electric and Gas Company (PSE&G), is responsible for owning and maintaining electric and gas networks, connecting customers, performing meter and billing services, and managing system reliability and storm response.